Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have earned an average recommendation of “Buy” from the twenty-one analysts that are currently covering the company. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $110.94.
BMRN has been the topic of several research reports. Instinet initiated coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, March 1st. They set a “neutral” rating and a $93.00 price objective on the stock. Vetr lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating and set a $95.10 price objective on the stock. in a research note on Monday, April 10th. Gabelli initiated coverage on shares of BioMarin Pharmaceutical in a research note on Sunday, December 25th. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Wednesday, December 28th. Finally, Credit Suisse Group AG reiterated an “outperform” rating and set a $112.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded up 0.07% on Friday, reaching $90.23. The company had a trading volume of 825,515 shares. The company’s market capitalization is $15.60 billion. BioMarin Pharmaceutical has a 52 week low of $73.45 and a 52 week high of $102.49. The company has a 50 day moving average of $89.56 and a 200-day moving average of $87.57.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, February 23rd. The biotechnology company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.38) by $0.15. The business had revenue of $300 million for the quarter, compared to analyst estimates of $296.54 million. BioMarin Pharmaceutical had a negative return on equity of 8.54% and a negative net margin of 46.22%. BioMarin Pharmaceutical’s revenue was up 31.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 EPS. Analysts predict that BioMarin Pharmaceutical will post ($0.95) earnings per share for the current fiscal year.
In related news, CFO Daniel K. Spiegelman sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $94.07, for a total transaction of $3,292,450.00. Following the completion of the sale, the chief financial officer now directly owns 60,347 shares in the company, valued at $5,676,842.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Henry J. Fuchs sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $87.99, for a total transaction of $1,319,850.00. Following the sale, the insider now owns 128,442 shares of the company’s stock, valued at $11,301,611.58. The disclosure for this sale can be found here. Insiders sold 105,418 shares of company stock valued at $9,623,408 over the last quarter. Insiders own 2.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of BMRN. Douglass Winthrop Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 1.1% in the third quarter. Douglass Winthrop Advisors LLC now owns 3,110 shares of the biotechnology company’s stock worth $288,000 after buying an additional 35 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of BioMarin Pharmaceutical by 0.5% in the third quarter. CIBC Asset Management Inc now owns 11,723 shares of the biotechnology company’s stock worth $1,085,000 after buying an additional 56 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in shares of BioMarin Pharmaceutical by 1.9% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 4,161 shares of the biotechnology company’s stock worth $385,000 after buying an additional 79 shares during the last quarter. Creative Planning boosted its stake in shares of BioMarin Pharmaceutical by 0.7% in the first quarter. Creative Planning now owns 13,440 shares of the biotechnology company’s stock worth $1,180,000 after buying an additional 100 shares during the last quarter. Finally, JGP Global Gestao de Recursos Ltda. raised its position in BioMarin Pharmaceutical by 1.3% in the third quarter. JGP Global Gestao de Recursos Ltda. now owns 10,448 shares of the biotechnology company’s stock worth $967,000 after buying an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 97.78% of the company’s stock.
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BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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